Bitcoin's price remains lower as 2024 approaches. Analysts discuss the potential for a new bull market. Continue Reading: Market Analysts Predict Bitcoin Trends and New Investor Behavior The post Market Analysts Predict Bitcoin Trends and New Investor Behavior appeared first on COINTURK NEWS .
Bitcoin’s price fell below $94,000 on December 23 as the Wall Street open brought little relief for bulls seeking recovery from recent declines. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing 1.2% on the day, extending its downtrend. Over the weekend, Bitcoin briefly spiked to $99,500 before being pushed down by sellers, bringing its drawdown from last week’s all-time highs to 15%. Short-term price performance has raised concerns among analysts. The popular X analytics account Bitcoindata21 highlighted bearish signals, noting, “Underside retests and rejections of VWAPs are NOT what you want to see for bullish price action.” Their analysis pointed to a likely retest of $92,000, with a more significant buying opportunity at $85,000–$86,000, described as the “back up the truck” zone for bulls. Similarly, the trader CrypNuevo predicted further price drops before a market rebound, targeting levels near $90,000. “Now, I still think that we could revisit the lows,” CrypNuevo shared in a thread on X, discussing low-timeframe market patterns. “It’s hard to imagine that we’re going to get a V shape recovery from here. I’m leaning more towards either a W formation or a 100% of the wick fill. Ideally, the 100% wick-fill, since $90k is a strong psychological level.” Bitcoin’s recent volatility has left market participants questioning the strength of the asset’s support levels, as bearish momentum continues to dominate short-term trends.
The post XRP at Make-or-Break Level, Can It Hold $2.15? appeared first on Coinpedia Fintech News XRP, the native token of Ripple Labs, is making waves amid ongoing market uncertainty. Over the past few days, the overall cryptocurrency market has faced downside momentum. XRP Current Outlook Despite this, XRP has held its crucial support level at the $2.15 mark for the last five trading days. Meanwhile, major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), have experienced a notable price decline during the same period. The potential reason behind XRP’s ability to maintain its support level is the continuous support and confidence from investors and traders, as reported by on-chain analytics firm Coinglass . $407 Million Worth XRP Outflow Data from XRP spot inflow/outflow revealed that exchanges across the cryptocurrency landscape had witnessed an outflow of a significant $407 million worth of XRP in the past six days. During this period, exchanges didn’t face any inflow or token deposits from wallet addresses, which hints at a bullish sign. Source: Coinglass In the cryptocurrency landscape, “outflow” refers to the movement of assets from exchanges to wallets, which also represents accumulation. However, this significant outflow indicates potential upside momentum and an ideal buying opportunity. There is a high possibility it could create buying pressure if this trend continues. Technical Analysis and Upcoming Levels According to expert technical analysis, XRP is at a crucial support level of $2.15 and appears to be losing its grip on that support. Source: Trading View Based on recent price action and historical momentum, if the altcoin closes a daily candle below the $2.15 level, there is a strong possibility it could decline by 15% to reach the next support level at the $1.95 mark. Conversely, if XRP holds this level, there is a strong possibility it could soar by 25% to reach the $2.75 mark in the future. Current Price Momentum At present, XRP is trading near $2.20 and has experienced a price decline of over 1.05% in the past 24 hours. During the same period, its trading volume dropped by 5%, indicating lower participation from traders and investors amid market uncertainty.
U.S. President-elect Donald Trump has appointed former college football player Bo Hines to the new crypto council. Announced Sunday, Hines will be onboard as the executive director of the Presidential Council of Advisers for Digital Assets. Trump’s Crypto Council The 29-year-old acknowledged the appointment in a December 23 post on X, writing: “Thank you, Mr. President! It will be the honor of a lifetime to serve in your next administration. Thank you for everything you have done and continue to do for our country.” Hines further expressed his excitement about collaborating with the council’s chair, David Sacks. He also stated his commitment to ensuring that the digital asset industry thrives and remains central to the United States’ technological leadership. According to a Truth Social post by Trump, the crypto council is a newly created advisory body composed of key figures in the virtual currency space. Chaired by Sacks, the group will work to foster innovation and growth in the sector while providing industry leaders with the resources they need to succeed. “Together, they will create an environment where this industry can flourish and remain a cornerstone of our nation’s technological advancement,” said the statement. Hines, an alumnus of Yale University and Wake Forest University Law School, played for both North Carolina State and Yale. In 2022, he took a stab at elective politics, running as the Republican candidate for North Carolina’s 13th congressional district, where he narrowly lost to Democrat Wiley Nickel. He has long supported cryptocurrency, describing the assets as the “epitome of individual empowerment in finance” in a January 16 post on X. Further, he decried the “burdensome regulations” the Biden administration had placed on the industry, stating it needed “freedom to grow organically.” Pro-Crypto Appointments Since winning the U.S. presidential election, Trump has made several pro-crypto appointments in line with his campaign promise to make America the crypto capital of the world. On December 5, he chose David Sacks to oversee the AI and cryptocurrency sectors. At the time, he explained that his responsibilities would include positioning the U.S. as a world leader in these fields by protecting free speech online and countering Big Tech bias and censorship. The crypto czar was also tasked with creating a legal framework to address the sector’s demand for regulatory clarity, enabling its growth and success within the country. Under Trump’s administration, Sacks, in collaboration with the chairs of the Securities and Exchanges Commission (SEC) and the Commodities Futures Trading Commission (CFTC), will lead efforts to reform digital currency policies backed by the new crypto council. Additionally, the president-elect has selected Paul Atkins to replace outgoing SEC Chair Gary Gensler, signaling his determination to reverse what he has described as the Biden administration’s “war on crypto,” primarily driven by the regulator under Gensler’s leadership. Congressman French Hill was also named the incoming chair of the House Financial Services Committee, effective in 2025. He is expected to play a crucial role in shaping legislative measures for the crypto sector in the year ahead. The post Trump Names Bo Hines Executive Director of Presidential Digital Asset Advisory Committee appeared first on CryptoPotato .
The move is part of the exchange’s broader plan to expand its US presence following the election of Donald Trump.
Currently, Solana ($SOL) struggles to keep the $180 range, while Ripple ($XRP) struggles to maintain a $2 price point in the recent period. Adding to the intrigue, Solana’s descent from $260 to $180 has seen it surpassed by $XRP in market capitalization, a development that has shocked the entire crypto community. Solana ($SOL): Struggling to Maintain $180 Solana has emerged as a primary force of the blockchain ecosystem, having been nicknamed “Ethereum killer” owing to its rapid transactions and low fees. Nonetheless, recent behavior of the market shows that $SOL is struggling to maintain its price levels. • Price Crash: From $260 to $180 — a drastic drop for Solana.• SURPRISING OUTCOME: This decline led to Ripple ($XRP) overtaking Solana per market cap.• Technical Challenges: Solana has experienced network outages and performance problems, resulting in a loss of investor confidence. Despite the attention on falling prices and TVL, Solana has a robust ecosystem of decentralized applications (dApps) and projects that continue to drive growth. While investors are keeping an eye out for a comeback driven by network upgrades and developer activity. Ripple ($XRP): Battling Volatility Around $2 Ripple’s $XRP has been the talk of the town in recent weeks in light of a string of positive and negative news. After news broke of Gary Gensler’s exit from the SEC, seeing $XRP rally to $2.9; however, the asset has struggled to keep the buy side momentum. • Bearish pattern: $XRP has not been able to maintain the $2.1 area for the last 7 days and has formed a bearish M (Double Top) pattern.• Target price: This pattern gives a more bearish target of $1.5, which might concern traders.• Regulatory Overhang: Although the SEC-related positive news gave breathing space to $XRP in the short run, which could result in overhang for future upward price movement. Ripple’s utility through partnerships with financial institutions around the world continues to be visible, but there is scant evidence that price action is being driven by fundamentals as the market is still under the influence of short-term direction and technical signals. Altura ($ALU): Poised for a Bullish Breakout In contrast to $SOL and $XRP, Altura ($ALU) is capturing attention as it prepares for a significant bullish breakout. Altura is a blockchain project focused on powering gaming and NFTs through smart NFTs—dynamic, upgradeable NFTs that can change properties based on predefined conditions. Key factors driving Altura’s bullish outlook include: • AI Toolkit Announcement: Altura recently announced a new AI toolkit, which has generated excitement and renewed investor interest.• Bullish Chart Pattern: On the 4-hour chart, $ALU is forming a falling wedge pattern, a classic bullish indicator that suggests an imminent breakout. • Price Targets: Analysts predict that $ALU could reach new local highs of $0.2 in the short term. Long-term projections suggest even greater potential, with a market capitalization that could soar to $1 billion. Conclusion While Solana ($SOL) and Ripple ($XRP) navigate their respective challenges, Altura($ALU) is emerging as a promising investment opportunity. With its focus on gaming, NFTs, and AI innovation, Altura is positioned to capitalize on the growing demand for blockchain-based entertainment solutions. For investors, this divergence in performance highlights the importance of diversification and staying informed about emerging trends in the cryptocurrency space. Whether you’re holding $SOL, $XRP, or exploring $ALU, understanding the underlying factors driving these assets is crucial for making informed decisions in the volatile world of crypto trading. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Hyperliquid Labs, a decentralized perpetual futures trading platform, has strongly denied allegations of being exploited by wallets linked to North Korean hackers. The company has assured its users that no vulnerabilities have been found and all funds remain secure, following widespread concerns about suspicious trading activity. Reports of DPRK-Linked Wallets Spark Security Concerns Concerns emerged after Taylor Monahan, a security expert, claimed that wallets flagged as being associated with North Korean hackers had engaged in trading on Hyperliquid’s platform. These wallets reportedly conducted transactions involving Ethereum (ETH) , leading to liquidations totaling over $700,000. Monahan, in a statement on social media, suggested the activity could have been an attempt to probe the platform’s defenses. The activity triggered fears among users, leading to significant withdrawals of USDC from the platform. According to data from Hashed’s Dune Analytics dashboard, over $194 million in USDC was withdrawn on Monday alone. Hyperliquid Refutes Exploit Claims After the allegations, Hyperliquid Labs has come forward to address the issue via its Discord channel, claiming that there was no hack or exploit. ‘Hyperliquid Labs has noted the rumors circulating with regard to activity on behalf of DPRK addresses.’ To the best of the authors’ knowledge, there has been no DPRK exploit – or any exploit for that matter – of Hyperliquid. All customer funds are accounted for,” the company said. The team also emphasized the operational security that it uphold by using strong bug bounty program and compliance with industry standard in blockchain analysis. According to Hyperliquid Labs, there has been no disclosure of any vulnerability by any security researcher or third party. HYPE Token Volatility Stabilizes The accusations and the subsequent market concerns resulted in the drop of Hyperliquid’s native currency, HYPE. The token fell by more than 25% from $34 on Sunday to $25 on Monday. Nevertheless, as Hyperliquid Labs provided guarantees that user funds are safe, the price of HYPE stabilized, and at the time of writing, it was $27, as seen on DexScreener. Despite being one of the leading providers of on-chain perpetual futures trading where it holds more than 55% of the market, Hyperliquid remains a dominant force in the DeFi space. However, regardless of the recent fluctuation in the platform’s market standing, the market position seems to have been able to win back investors. Security Risks of Validator Infrastructure Despite Hyperliquid dismissing the claim that there is an exploit , the platform is said to be at risk because it has only a few validators. Several crypto security experts pointed out that Hyperliquid has only four validators, which could be a problem if three of them were compromised. A crypto developer, Cygaar, explained that Hyperliquid’s bridge on Arbitrum One currently holds $2.3 billion in USDC. Since the platform operates on a two-thirds quorum requirement, compromising three validators could allow malicious actors to access the entire amount. To address such scenarios, experts have suggested that Circle, the issuer of USDC, could blacklist hacker-linked addresses to prevent the stolen funds from being moved or converted. Additionally, the Arbitrum multi-signature security council could roll back malicious transactions in the event of an attack. However, this option remains controversial due to concerns about centralization. The post Hyperliquid Labs Denies DPRK Hack, Confirms Funds Are Safe appeared first on CoinGape .
Sats (1000SATS) is a type of BRC-20 token created as a tribute to Bitcoin (BTC) ‘s anonymous creator, Satoshi Nakamoto. This article answers many questions, such as what Sats is, what 1000SATS coin is, and where to buy it, as it was recently listed on the major cryptocurrency exchange Binance. Continue Reading: How to Buy Sats (1000SATS) Coin? The post How to Buy Sats (1000SATS) Coin? appeared first on COINTURK NEWS .
An analyst has explained how Bitcoin could see a top beyond the $168,500 mark based on the historical trend in this indicator. Bitcoin Mayer Multiple Could Reveal Location Of Next Price Top In a new post on X, analyst Ali Martinez has discussed where the BTC top could lie based on the Mayer Multiple. The “Mayer Multiple” refers to an indicator that keeps track of the ratio between the Bitcoin price and its 200-day moving average (MA). The 200-day MA has historically proven to be a significant level for BTC, often serving as the boundary between bearish and bullish trends. As such, the distance of the price from this MA, which is what the Mayer Multiple measures, can be useful to watch. Related Reading: XRP Could Be The Altcoin To Recover Quickly, CryptoQuant Analyst Explains Why When the Mayer Multiple has a high value, it means the asset is trading significantly above the 200-day MA, which could imply potential overbought conditions. On the other hand, the metric being low could suggest a bullish reversal may be due for BTC. Now, here is the chart shared by Martinez that shows the trend in the Bitcoin Mayer Multiple represented as an oscillator over the history of the cryptocurrency: As is visible in the above graph, the Bitcoin Mayer Multiple is currently around halfway to the level that has usually signaled overheated conditions for the coin’s price. The level in question is situated at the 2.4 mark. When the metric assumes this value, the price of the asset becomes 2.4 times the 200-day MA. In the same chart, a price line corresponding to this level is also shown. It’s apparent that Bitcoin formed some of its major historical tops when it broke through the line. So far in the current cycle, Bitcoin hasn’t been able to retest the level yet. And it may not be able to do so for a while, either since the Mayer Multiple would only equal 2.4 when the cryptocurrency’s price rises to around the $168,500 level. Related Reading: XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals An important level relevant to the Mayer Multiple that BTC did retest during this cycle was the 0.8 line. Just like the 2.4 level serves as a signal for potential overheated conditions, this line can imply the coin may be reaching a bottom. Bitcoin successfully found a rebound at the line earlier in the year, confirming that a transition towards a bear market hadn’t taken place yet. It now remains to be seen whether the asset would go on to retest the top level next or if another plunge to this bottom level will happen first. BTC Price Bitcoin slipped toward the $92,000 level on Friday, but it seems the asset has made some recovery since then, as it sits at $96,000 to kick off the new week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
DOGE’s next rally? Historical data hints at a potential 12,000% surge as activity spikes!